KENNESAW, Ga., Feb. 10, 2020 /PRNewswire-PRWeb/ -- WorldWatch Plus, a leader in global risk and identity screening solutions, and Veloxiti AI Works, a leader in cognitive AI software, today announced a strategic partnership to further develop AI applications for KYC risk management and background screening. Part of the growing Atlanta tech community, the companies have collaborated for three years developing artificial intelligence in the WorldWatch Plus KYC & Risk Screening platform.
The WorldWatch Plus platform is an award-winning solution for KYC Risk and KYC Identity solutions for pre-employment, financial, and commercial due-diligence risk screening. Veloxiti, a leader in AI development for U.S. Department of Defense applications, made WorldWatch Plus one of its first commercial application partnerships.
First public appearance
CEOs Chuck Papageorgiou from WorldWatch Plus and Larry Lafferty from Veloxiti will discuss the practical implications of ethical and trustworthy uses for Artificial Intelligence (AI) and Intelligence Augmentation (IA) at the Synapse Summit, February 11-12 in Tampa, Florida.
They will discuss how WorldWatch Plus incorporated the Veloxiti AI engine with its machine learning, natural language processing, and heuristic engines to create AIVAa – the artificial intelligence virtual adjudication agent. AIVAa replaces manual human analysis of unstructured information like media articles and enforcement actions.
"Technology matters," said Papageorgiou. "It enables us to deploy innovative solutions that help our clients work faster and smarter and maintain compliance with regulations and risk management policies. Our clients can operate 75% faster than with legacy solutions using outdated tech, and that is only the beginning of our journey with Veloxiti's military-grade AI tech."
Technology driving business success
WorldWatch Plus delivers global risk information about individuals and businesses that eliminates the noise and false positives the hinder other solutions in the marketp
"We are very excited to see how WorldWatch Plus is using our technology to help clients," said Lafferty. "Because queries about people or organizations typically return multiple 'hits' we use a graph knowledge base and advanced decision processing algorithms to apply a set of heuristics to resolve identities. This approach allows us to further screen out sources not relevant to a query."
The Synapse Summit is an annual gathering of entrepreneurs and innovators, corporations, service providers and government officials at Amalie Arena in Tampa. Synapse Florida runs innovation challenges, professional networks, and special events like the Summit to foster the growing technology and innovation communities in Florida.
About WorldWatch Plus
WorldWatch Plus serves background screening, due diligence firms, financial, and corporate clients requiring global sanctions, PEP, adverse media, and ID verification services. WorldWatch Plus searches data from thousands of agencies in fractions of a second. The solution eliminates false positives to accelerate hiring or customer due diligence (CDD) processes. The company was named twice to the Inc. 5000, twice named a Top 10 KYC Solution Provider by Banking CIO Outlook, a Top 10 Innovative Company in Georgia, and added to the NICE Actimize X-Sight financial crime management marketplace. To learn more, visit worldwatchplus.com
About Veloxiti AI Works
With a foundation of advanced artificial intelligence techniques developed over many years with the U.S. Department of Defense, Veloxiti continues to be on the leading edge of advanced command and control solutions. Veloxiti now brings these advanced capabilities to the commercial marketplace. With Veloxiti AI Works solutions, human decision-making can be greatly enhanced, skilled workers' performance amplified, and the promise of Big Data based solutions made a reality. To learn more, visit veloxitiai.com
SOURCE WorldWatch Plus